Overview
What is Hagedorn Fordham Road Inc?
Hagedorn Fordham Road Inc is a title-holding corporation situated in New York City, specifically at 390 Madison Avenue, 14th Floor. Operating under Section 501(C)(2) of the Internal Revenue Code, it is exempt from federal income tax and pays out its entire income in the form of a dividend to the Hagedorn Fund, a nonprofit organization under Section 501(C)(3). The company's primary function is to serve as a title-holding entity, contributing to the broader mission of the Hagedorn Fund. With a modest workforce of only one employee, Hagedorn Fordham Road Inc plays a significant role in supporting the objectives of its affiliated nonprofit organization.
Is Hagedorn Fordham Road Inc legitimate?
Hagedorn Fordham Road Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Hagedorn Fordham Road Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Hagedorn Fordham Road Inc?
Hagedorn Fordham Road Inc, being a title holding corporation exempt under IRC Section 501(C)(2), functions with the primary goal of distributing its entire income in the form of a dividend to the Hagedorn Fund, an organization that is also exempt under IRC Section 501(C)(3). This arrangement is required as per Section 501(C)(2). The company's activities are not publicly disclosed, as the provided information primarily focuses on its tax-exempt status and financial structure.
What is the revenue of Hagedorn Fordham Road Inc?
Hagedorn Fordham Road Inc's revenue in 2023 was $865,956.
Who are the executives of Hagedorn Fordham Road Inc and what are their salaries?
There is 1 employee at Hagedorn Fordham Road Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $34,800
- Other: $0
- Compensation: $0
- Related: $34,800
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hagedorn Fordham Road Inc?
Hagedorn Fordham Road Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Hagedorn Fordham Road Inc
Hagedorn Fordham Road Inc, a title holding corporation, operates under the exempt status of IRC Section 501(C)(2). This organization's primary function is to generate income, which it then distributes in the form of dividends to the Hagedorn Fund. The Hagedorn Fund, an exempt organization under IRC Section 501(C)(3), is the intended recipient of these dividends, as required by Section 501(C)(2). In essence, Hagedorn Fordham Road Inc serves as a financial conduit, channeling its earnings to the Hagedorn Fund. This arrangement allows the Hagedorn Fund to continue its charitable activities and fulfill its mission as a nonprofit organization.
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Impact
October, 2024
Hagedorn Fordham Road Inc plays a significant role in community improvement through its financial mechanisms. By operating as a title holding corporation exempt under IRC Section 501(c)(2), it effectively manages its assets to generate income. This income is wholly distributed as dividends to the Hagedorn Fund, which is recognized as an exempt organization under IRC Section 501(c)(3). This structure allows Hagedorn Fordham Road Inc to contribute financially to the Hagedorn Fund, which likely supports various charitable activities and community initiatives. Through this model, Hagedorn Fordham Road Inc aids in funding projects that enhance the well-being of the community and address critical local needs.
This information is meant to be a general summary of Hagedorn Fordham Road Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $12,162
- Gross Receipts: $2,563,850
Assets and Liabilities:
- Total Assets: $2,233,751
- Total Liabilities: $203,398
- Net Assets: $2,030,353
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Organization Details
Founding Year
1956
Principal Officer
H Hedley Stothers Jr
NTEE Category
Code: S47 - Community improvement
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